Big Banks Get Dozens Of Claims Cut From Libor-Rigging MDL

Law360 (August 13, 2019, 7:42 PM EDT) -- Bank of America and a host of other big banks being sued over their alleged role in rigging Libor will face a slimmed-down set of claims after a New York federal judge agreed to honor an agreement made with Freddie Mac and the Federal Deposit Insurance Corp. to cut dozens of claims.

U.S. District Judge Naomi Reice Buchwald agreed to bless the agreement in a handwritten order Monday, made on the bottom of the banks' original request filed in June.

Freddie Mac, the FDIC and Principal Financial Group Inc. decided to meet and "significantly [narrow] their disputes" to make sure all...

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